The Globe and Mail is reporting that the Ontario government may dump its shares of General Motors as a way of helping to fund expanded public transit in the Greater Toronto Area.
According to the newspaper, the sale of GM shares will be part of a broader asset sale. With tax increases (namely an increased sales tax and a new levy on gasoline sales) being ruled out, the asset sale will likely be used to make up the shortfall in funding for badly needed public transit for Toronto and its surrounding regions.
At current market value, the shares are valued at $1.4 billion CAD.
from The Truth About Cars http://ift.tt/Jh8LjA
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